newman's own foundation, and union bank. >> at union bank, our relationship managers use their -- our relationship managers work hard to know your business. we offer expertise and all taylor solutions for small businesses and corporations. what can we do for you? >> this week, as he prepares to take over the presidency again, some claim that leonard putin is living like the news are of russia. -- that vladimir putin is acting like the new tsar of russia.

>> the original screen was for just $14 million. a small house with a swimming pool, nothing more. >> brazil, russia, india, china. we look at the economies in the emerging market. the occupy movement is trying to spread his message through new kinds of art. >> i am making a functional anthers recipes of work that will be put on a building and held up on demons-- will be held up by demonstrators. >> viagra putin will officially become russia's president, although some thinking never left the job. -- vladimir putin will officially become russia's president. a mysterious complex has risen

up on the black sea, sit for a king. a former member says that he can prove that this was built for the leader's private use. >> a palace a fit for a tsar, lavishly constructed by italian architects, at a cost of hundreds of millions of dollars. its gates are crowned by an imperial eagle. this has all the facilities that the country's ruler might require. there is a landing space for three helicopters. officially, it belongs to an obscure private company. but who is it for? efforts by campaigners to break through security and penetrate the palace ground have only deepened the mystery. was it built as a personal retreat for vladimir putin about

to start his third term as president? is this another example of the corruption that many believe is now involved in the country? >> this is a man who should now, the first insider from putin's business our goal to blow the whistle on how vladimir putin has benefited personally. the kremlin has denied his allegations gum but this man was once one of those responsible for building the palace, until he pulled out in disgust and fled abroad. >> i had not worked 50 hours a day for 10 years to build a palace. i spent a huge part of my life to do something interesting for russia. -- i did not work 15 hours a day for 10 years to build a palace. >> these are records for

payments overseeing to an overseas company belonging to friends of putin that financed the palace. much of the money was diverted from charities and donations. so, it begins with the owner of the chelsea football club. he was one of several tycoons who gave millions of dollars to upgrade russia's hospitals. he imported equipment, also at fault, it the personal friends of lederer putin. -- also involved, the personal friends of vladimir putin. they purchased offshore companies at the recommendation of putin himself. the kremlin has a pet project of its own.

>> at the beginning of 2005, they said there was a nice piece of land on the black sea where a small house could be billed for relaxation. the original scheme,hich is clear with our contract, was for just $14 million. this is a small house with a swimming pool, nothing more. >> but today, that little retreat that his company helped to finance covers a whole mountain side. and if our mental activist wanted to discover who would destroy protected forests to build such a huge complex? -- and environmental activist wanted to discover who destroy protected forests to build such a huge complex? they got right up to the palace before they were discovered by security. then, they were approached by other guards with badges more usually seen around the kremlin.

>> there were employees of the federal guard service whose job it is to protect the high state officials. they were even in uniform. they showed us their official id. there is no sign is a private house. >> so, whose palace is this really? we set off to investigate. we went through a landscape that the carry slightly more and passable. -- that became steadily more impassable. the palace is another 20 or 30 kilometers down the road, but the snow is getting too deep for us to continue. we thought we would be stumped by the police, but in the end, we are simply stopped by the winter. this person saw the palace many times when it was built. he said it was his job to discuss how best to implement putin's wishes.

he and his partner were beginning to fall out. >> at the end of 2008, came the financial crisis. many of our investment projects needed money. when asked putin, he promised to provide it, but he did not. he said, the decision was to stop the other projects and put it into the palace. >> by the end of 2009, he had left russia. he sent an open letter to president medvedev, accusing vladimir putin, then run minister, of corruption. the kremlin said it had nothing to do with the palace. a journalist on one of the opposition newspapers obtained documents that backdrop this story. -- that back up this story. the agreement to build a palace of state-owned land.

>> the company belonged to putin's friends. the head of the department of these affairs tonight this. he said i never signed any documents. >> this does not prove that the palace was meant for putin himself, but there is circumstantial evidence. >> there is also the building of a road directly to the palace, a high-powered electric line, the gas supply. the government spent tens of millions of dollars on these. if this was just for his friend, why would the federal guard service commission and a monitor the building? why would he need three helipads? a private person does not need these, but for a president, they are essential. >> the implication is clear, an elaborate scheme funded over many years to give putin a

private palace on public money, without his name appearing on a single document. the claims cannot all be proved. there is no clear evidence that the charity was diverted. his former partners in, the companies say that they're not available for comment. meanwhile, the environmental campaigners tried without success to strolled along the tallest beach last summer. by then, the owners or another private company, less closely connected with putin. was that just a smokescreen? >> i think that it is so that this cannot be later be returned to the government because clearly that the man this place really belongs to feels he may lose power. by law, this would go to the next president, if it's still belongs to the kremlin. if it is private, it cannot be touched. >> outside of the house, we saw

secret police lurking. they know his campaign to protect the environment is becoming increasingly political. they had been watching him since he protested against the alleged corruption of both local and national leaders at the holiday home of the regional government. the governor's believed to help putin choose the side. when we tried to contact him, he denied that the chief had any progress come at all. >> as far as i know, the president and the prime minister have official residences. they receive guests there come a spend their summer holidays. although, even during the holidays, they're working. >> so, their government residences, and they have nothing else as far as i know. >> vladimir putin will soon return to his presidential office. he had been reelected with an overwhelming majority.

transparency international said that this is by far the most corrupt leading state. it is level with nigeria. if only there were a few more whistle-blower's before much changes. >> this is a cat which is best known force including the must use an expensive pro freedoms. -- this cat is best known for producing the musk used in expensive perfume's. >> this animal's odor is used to make perfume. it is the smell of money that has made the more famous than

the namesake. colombia, egypt, vietnam, turkey, south africa. they are the next wave of the emerging economies which could matched their bric brothers in terms of growth, but not scale. what could bring them together, as well as historical and financial backgrounds? well, they all have young educated populations. 28 is the median age. in britain, it is 40. use, and especially a trained one, matters and a growing economy, because it means you are producing a stream of wealth-creators, or these consumers of goods and services. the other unified factor is growth itself. land and labor are cheap. they have all grown rapidly by our standards. it is this combination of growth that has led to a boom in foreign direct investment into those countries. >> who are the other economies

that share the characteristics of a very low level of developers, but really good foundations, really good fundamentals. they will grow rapidly in the next few years and have the potential, we think, to grow rapidly, not just for a few years, but for a few decades. certainly, by far outpacing what we will see in the western world. >> we could look at all six, but to save time, let's look at 3. colombia has gone a long way from being a by word from kidnapping and cocaine together may export its oil and coffee. two commodities which have soared in price. they have worked hard to improve their corporate governance. growth is averaging between 5% and 6% every year and american firms are lasted $7 billion there in 2010. turkey has long promised but is

only now delivering. check where you're sure it was made. chances are, turkey. so, too, your washing machine. turkey makes cars. 1.1 million of them in 2010, and joint ventures with local bands. the world bank's think it will grow by over 5% this year. >> turkey is the best example of a country that had some very serious crises in the past, but has come through that and now it is a very credible -- credible country. it is attracting investment and boosting growth. the other interesting one is indonesia, a country that has an awful lot of development to do. it is still very split in terms of 8 being wealthy, other parts very poor. one country that has use potential. >> like its neighbors in australia, it has made hay on the backs of many commodities.

its young, mostly second of population, has acquired a taste for shopping. however attractive the civet group of nations are, they are a risky bet. most of them are not even considered investment grade by the credit ratings agency. democracy and accountability is new, if it exists at all. company law is sketchy, and punishment for what we consider minor infringements can be draconian in some places. then, there is the omnipotent threat of civil unrest or even outright war. a year after egypt was included in the list, they had a major revolution, and investment dried up entirely for six months. no one can say for sure that this will not happen elsewhere. so, it is ever caveat emptor applied, it is to bthe civet. >> we have been speaking to the

colombian the ambassador to the uk. is this more than some in gimmicky acronym? >> i think it has a lot of substance. this was created by the economy intelligence unit after the thorough analysis ofonomic fundl variables. i think it has a lot of potential. the recent history proves that the economies are right in forecasting a high growth rate for our economy. >> what are you learning from egypt? >> we have a large population. >> true, they had a growth rate of less than 1%. >> the imf forecasts a growth rate between 4%-6% for the coming three years in egypt and i believe that there is a potential for that kind of growth rate. >> what do you make of this idea? >> i am a bit more circs --

skeptical. they share a favorable growth outlook. however, i am much more on the gimmick aside for a couple of reasons. first of all, the commonalities around these countries. moving from indonesia to colombia. a country with a one for the gdp, indonesia, shy of 300 billion. second, why is egypt in this group? the growth is not that favorable. the assumption that each of the has got good fundamentals is certainly questionable. >> we can also ask, how come some countries are not in this group? how come mexico was not in there? >> i agree that mexico should be included. >> it might be more difficult if you put into the countries to have a gimmicky acronym.

>> i agree that mexico should be included. they have a huge population, a very large gdp, and they have solid institutions and i hope they will continue. >> do you have any plan for a convention? >> yes, we have been talking to the press ministers of the countries. our prime ministers are working together in designing strategies -- >> what would you hope to do? >> well, we have, of plans to promote investment and our country, both domestic and foreign investment. for example, it has multiplied by 10. >> would you invest in these countries? >> think of countries like indonesia, it touches like turkey, south africa, vietnam, they do enjoy a favorable

economic outlook. the question is, once you put them in the same basket, then you have to make the case for them. the case is a fairly weak case. columbia has done very well over the past few years. there is a challenge there. there is the challenge of how you manage this wealth. what does it mean in terms of controlling inflation? what does it mean in terms of controlling the rate of exchange and so on. growth is certainly good. >> would you have any advice that you would like to give us? >> you are investing and it would beef 15 times. it is not late. -- you are investing and it would be worth 15 times. >> would you invest in the columbia's stock exchange? >> most of our investors do. "your advice? >> no, no.

it is not the growth, it is about putting together all of them in the same basket. >> good luck to you all. finally, the occupy movement and the loose association of protesters against inequality in the west staged demonstrations against the monstrous power of capitalism. there was rallies across the world but the main protest were in a new york, where the movement was born. they are inspiring new forms of artistic expression with a direct political purpose. >> new york, the center of the global art world. since last october, it has been the center of something else, the occupy movement.

with the protest will leave a lasting impact on the politics, what is for certain is that they are already impacting on his art and culture. -- honest art and culture. >> this was really simple. it is 99%. a black font in a white circle. it is big and it reads as a bat single. it is culturally legible. this is a call to arms and a call to aid. instead of a super hero millionaire, psychopathic millionaire, it is ourselves. it is up to us. we are our own super hero. >> meet the eliminate -- illu

minaters. they have created a brand more successful than actual brands. is this performance art or is it activism? for the generation of occupied it, that is is to the question. -- for this generation, that is a stupid question. >> we're not concerned about how we will be preceded by a buying public. >> it is not decide to be bought? >> no, it is designed to be shared. it designed to be made available as widely as possible. people are putting up their work. >> in the occupy movement, this poster is where the white walled gallery meets the black box, where fine art meets street art.

>> i started out just doing graphics. i drew this picture of an octopus. i put it on line and people used this as a protest sign. >> this woman is part of a generation of young artists who started producing work with, and about the occupy movement. >> i think what it did to my generation was that it took us outside of ourselves, outside of the gallery system, as side of this stuff preferential way of working and made as engage with real people and the outside world. i am not just producing a pretty image that decorates things. i am producing a function and persuasive piece of work that will be put on some buildings and held up by demonstrators. >> the paintings, depicting the evils of capitalism, will sell for serious dollars. the money to produce them has been raised through a crowd-

sourcing on the internet. >> i thought that creating work that could only be bought by really rich people was silly and not in line with what i wanted to do. started thinking how i could take something like this and break up the components of it so that people who were not that wealth they could participate in it. >> for an older generation of more established artists, occupy has been in is used to get out of the galleries and back to the streets. this might look like a run through of the play about the paris commune, but it is part of a bigger artistic installation. >> i was just observing and i began to think about the time

when the drawing was socially relevant. when people really did document drawings. i was thinking about these ideas of a utopian society abstractly and i thought, it is down by my house. i'd better get down there. >> she has been exhibiting at the experiments end of the art world for years. she has repeated the action will occupy protesters to occupy the streets of manhattan for what many hope will happen next. by night, some of the same people are on the streets of new york for real. >> please turn around. >> says they were expelled from the original camp, they have been playing cat and mouse with the nypd nightly and there is always an element of performance in the protest.

as the real police moved in, so do actors playing a spoof police force. and so, night after night, they'd turn new york into a venue for the culture war. >> this is part of a mass movement. there is a global uprising for democracy and we are working to try and champion that movement. >> of course, the artistic rebel is tomorrows guy in the academy, but at least with this lot, you cannot call them rebels without a cause. >> from all of us, goodbye. >> funding for this presentation is made possible by -- the freeman foundation of new

york, stowe, vermont, and honolulu, newman's own foundation, and union bank. >> at union bank, our relationship managers work hard to understand the industry you operate in. working for new ventures and providing capital for key strategic decisions. we offer solutions and tailor solutions in a wide range of industries. what can we do for you? >> "bbc newsnight was presented

coming up, the ethics of using armed drones. the administration insists they are legal.